Anyone know what happened. I went long at 60.5. Not able to find any news about why everything including treasury dropped.
We will soon know the reason/s. I saw weakness in the Nasdaq few days ago and it is the index that started pulling down everything else.
Leave the news or the why to talking heads - there will always be a reason in hindsight. The equity markets have been going up a bit too much and too fast lately. We're still not much from ATHs. Some back-filling is due...
I think we'll see a decent directional move off the Open today - up or down and definitely have the potential of a trend day down, i.e., 4128. The key for the long side I think would be if we can trade back above 65. No strong bias either way at the moment, so will stay nimble and try to see which template is in play.
Probably bailed on my short too early (trailing stop @ 46). Trend day down in effect, but I'm not shorting it again from here. 4128 is the bounce zone - so will see if I can get a low risk long entry there. What happens there will be a tell, IMO.